Skip to Content
Morningstar
Get 14 Days Free

AllianceBernstein Holding LP AB

Morningstar Rating
Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Positive Flows and Market Gains Lift AB's AUM to $738 Billion in Q2; Raising FVE to $43 per Share

Greggory Warren, CFA Sector Strategist

Analyst Note

| Greggory Warren, CFA |

While there was little in no-moat AllianceBernstein's second-quarter results that would alter our long-term view of the firm, we have increased our fair value estimate to $43 per share from $40 to account for continued improvements in the company's assets under management and adjustments to our near- to medium-term forecasts for the firm since our last update.

Read Full Analysis

Company Profile

Business Description

AllianceBernstein provides investment management services to institutional (45% of assets under management), retail (40%), and private (15%) clients through products that includes mutual funds, hedge funds, and separately managed accounts. At the end of June 2021, AB had $738.4 billion in managed assets, composed primarily of fixed-income (45% of AUM) and equity (43%) strategies, with other investments (made up of asset allocation services and certain other alternative investments) accounting for the remainder. The company also provides sell-side research and brokerage services through its Sanford Bernstein subsidiary.

Contact
1345 Avenue of The Americas
New York, NY, 10105
T +1 212 969-1000
Sector Financial Services
Industry Asset Management
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Cyclical
Employees 3,929

Related

Stock Strategist Industry Reports
Our Take on Asset Manager Earnings
Nothing alters our long-term expectations, but we have made some valuation changes.
Greggory Warren
Advisor Insights
A New Era for Asset Managers
Firms face headwinds as balance of power changes toward investors.
Greggory Warren
US Videos
Our Asset Manager Stocks Picks in a Difficult Year
With the firms we cover down more than 25% year to date, we think it's best to stick with high quality, wide-moat BlackRock and T. Rowe Price.
Greggory Warren
Stock Strategist Industry Reports
Finding the Best of the Undervalued Asset Managers
Invesco still offers the best relative value, but BlackRock is starting to look attractive too.
Greggory Warren
Stock Strategist Industry Reports
More Asset Managers Providing Monthly AUM Is a Good Thing
BlackRock and T. Rowe Price remain our top picks in the space.
Greggory Warren
Fund Spy
AB's Shakeup Is a Reason to Pause, Not Panic
We maintain a Parent rating of Neutral.
Emory Zink
Quarter-End Insights
Financial Services: Accounting for Brexit and the Fiduciary Rule
Brexit increases the uncertainty around global financials, and the U.S. Department of Labor's fiduciary standard rule will reshape many business models in the sector.
Michael Wong
Stock Strategist Industry Reports
The Impact of Brexit on the Stocks We Cover
There's much to consider, but it's not all bad news.
Morningstar
Commentary
What Brexit Means for Asset Managers
Some will be impacted more than others, but we expect all of them to be caught in the undertow of declining global markets in the near term.
Greggory Warren
Stock Strategist Industry Reports
Department of Labor's Fiduciary Rule Will Have Substantial Effect
Morningstar analyst Michael Wong examines the impact on the financial sector.
Michael Wong
Commentary
Rising Interest Rate Environment a Mixed Bag for Asset Managers
Rising rates will help asset managers that run money market funds, but will likely prove a headwind to firms focused on fixed-income, writes Morningstar’s Gregg Warren.
Greggory Warren
Stock Strategist
Solid Start to 2014 for World's Largest Asset Manager
We continue to be impressed by BlackRock's ability to generate organic growth.
Greggory Warren
Fund Times
American Century to Merge Vista Fund Into Heritage Fund
T. Rowe Price seeks permission to create actively managed ETFs that are not transparent, a corporate-bond manager leaves PIMCO, and new managers are named to Oppenheimer Moderate and Ivy Global Natural Resources.
Morningstar Fund Analysts
Fund Times
Leuthold to Merge Asset Allocation Fund Into Core Fund
The manager of Leuthold Asset Allocation, which has been reeling from outflows, has left the firm, prompting the merger. Also, AllianceBernstein changes named managers in its target-date series and target-risk suite, ING swaps out managers on its asset-allocation team supporting multiasset funds, and American Funds is set to launch an emerging-markets fund.
Morningstar Fund Analysts
Stock Strategist Industry Reports
Equity Market Gains Not Lifting All Asset Manager Boats
Poor investment performance and rising interest rates have exposed weaknesses in several asset managers.
Greggory Warren
Fund Times
Fairholme Reopens to New Investors
AllianceBernstein to buy W.P. Stewart, FPA Paramount alters its focus, Fidelity to roll out a short-duration high-yield fund, PIMCO plans for a managed-futures fund, and a sad farewell to retired T. Rowe Price manager and 1995 Fund Manager of the Year Jack Laporte.
Morningstar Fund Analysts
Fund Times
T. Rowe Expands Target-Date Business With New Series
In a tough week for Marsico, the firm is removed as a subadvisor on two separate funds. Also, Calamos plans dividend and mid-growth funds, Oppenheimer to close Discovery to new investors, and John Hancock makes a raft of portfolio-management changes.
Morningstar Fund Analysts
Fund Times
Say Hola to Voya: ING U.S. Announces New Brand Identity
Plus, a new manager for Oppenheimer Global Allocation, another manager leaves the subadvisor for Laudus' U.S. large-cap growth fund, Oppenheimer Commodity Strategy Total Return undergoes a portfolio management change, and more.
Morningstar Fund Analysts
Fund Spy
Meet the Parents
Who's running your 529 plan?
Kailin Liu
Stock Strategist Industry Reports
Investors Continue to Lighten Up on Equities as Market Rallies
While global equity markets have regained their footing, investors still prefer fixed income over equities, with outflows affecting both U.S. and international stock funds.
Greggory Warren